Overview
The remote sensing technology market is flourishing because of technological advancements and high demand for high-tech sensing system. Remote sensing systems are classified into two types, passive sensors, which are used only to detect objects which emit energy naturally, and active sensors that release energy to examine the object and areas to determine the position of other physical entities around the object. Passive sensors are dependent on natural light reducing its utility chances while active sensors can be of use in the day and night both. Active remote sensing technology is commonly used in lasers and radars, while passive remote sensing technology is used in infrared, charge coupled devices, photography, and radiometers. One of the main factors influencing this growth consists of the necessity to improve the understanding of the earth’s systems, which has subsequently led to an increase in the adoption of remote sensors in different industries; however, complexity in data interpretation is a challenge to the growth of this market.
According to Market Research Future (MRFR) analysis, the global remote sensing technology market has been estimated to reach approximately USD 18 Billion by the end of the forecast period at around 10% of CAGR during the forecast period of 2018 to 2023.
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Segmental Analysis
The remote sensing technology market is segmented based on application, technology, and regions. Under application segment, remote sensing technology market is further segmented into landscape assessment, air quality, water quality, floodplain mapping, and emergency management, healthcare, agriculture, geology and mineral exploration, and oceanography. Remote sensors have utilized in electronics-based medicinal equipment to convert various forms of stimuli into electrical signals for examination. Sensors can raise the intellect of medical equipment, such as life-supporting implants, and can enable bedside and remote monitoring of vital symptoms and other health factors. The market has been segmented based on technology into passive remote sensing and, active remote sensing. Energy emitted by the active sensor is directed toward the target to be examined. Once the target is detected, the energy gets reflected and measured by the sensor. Advantages of active sensors such as its ability to obtain measurements 24/7 (irrespective of the season) are driving its market.
Key Players
The chief players in the remote sensing technology market are Honeywell Technology Solutions Inc. (U.S.), Northrop Grumman Corporation (U.S.), General Dynamics Corp. (U.S.), Raytheon Corporation (U.S.), Lumasense Technologies, Inc. (U.S.), Lockheed Martin Corporation (U.S.), ITT Corp. (U.S.), Thales Group (France), and Leica Geosystems Holdings AG (Switzerland), among others.
Regional Analysis
The global Remote Sensing Technology Market is segmented by region into North America, Europe, Asia Pacific and the rest of the world. North America region is accounted for the largest market in remote sensing technology market because of the increasing number of harmful radiation and its application in aircraft. The European region is projected to be the fastest growing region of the market because of the remote sensing device (RSD) system being installed in vehicles, which enables measurement of the emissions of vehicles in motion and its implementation in the economic, environment, and social performance. The Asia-Pacific is continually investing in research and development of remote sensing technology market to emerge as a powerful defense force.
Industry Updates
August 2018 – The Center for the Advancement of Science in Space (CASIS) which holds proficiency in remote sensing technology has declared a sponsored program of up to $4.5 million in partnership with Teledyne Brown Engineering (TBE) that provides advanced manufacturing solutions for harsh environments in defense, energy, space, and maritime industries. This program provides researchers the capability to recommend flight project concepts for the International Space Station (ISS) that focus on remote sensing and Earth observation.
August 2018 – Land O’Lakes are selling Geosys, their global digital agriculture company, which was once founded by agronomists, FOR us $ 20 mn. Geosys offers real-time, actionable insights to its customers based on satellite and weather technology.
LIST OF TABLES
TABLE 1 REMOTE SENSING TECHNOLOGYN MARKET, BY TECHNOLOGY
TABLE 2 REMOTE SENSING TECHNOLOGY MARKET, BY APPLICATION
TABLE 3 REMOTE SENSING TECHNOLOGY MARKET, BY REGION
TABLE 4 NORTH AMERICA REMOTE SENSING TECHNOLOGY MARKET, BY TECHNOLOGY
TABLE 5 NORTH AMERICA REMOTE SENSING TECHNOLOGYMARKET, BY APPLICATION
Continued…….
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LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 REMOTE SENSING TECHNOLOGY MARKET: BY TECHNOLOGY (%)
FIGURE 3 REMOTE SENSING TECHNOLOGY MARKET: BY APPLICATION (%)
FIGURE 4 REMOTE SENSING TECHNOLOGY MARKET: BY REGION (%)
FIGURE 5 NORTH AMERICA REMOTE SENSING TECHNOLOGY MARKET, BY TECHNOLOGY (%)
Continued…….
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